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Trash your cash - pros and cons

Trash your cash - pros and cons. The merchants ’ perspective on cash less payments. Market Director Mette Feifer, Danish Chamber of Commerce. Pros of cash. Independent of technology Anonymous – no logging Reliable Cheap payment method for small payments

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Trash your cash - pros and cons

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  1. Trashyourcash - prosand cons The merchants’ perspective on cashlesspayments • Market Director Mette Feifer, Danish Chamber of Commerce

  2. Pros of cash • Independent of technology • Anonymous – nologging • Reliable • Cheappaymentmethodfor small payments Depending on fees on alternatives

  3. Cons of cash • Safety issue Robbery Cheating • Handling is a hiddencost Counting Transportation/ Insurance • Cash exchange

  4. New paymentmethods: Cards, NFC, mobile, … • Pros • Convenient Fast payment, Allways at hand, nochange • No cash handling • Integrated solutions Ticket +information + pre-order drinks … • Low feecardsarecheapest for largerpayments Cons Requiretechinvestments Unconvinent solutions Feescanbeveryhigh High feecardsare most expensive High fees limits implementation of new tech

  5. It costsmoney to getmoney • Assymmetrybetweenmerchant and consumer Merchants’ favourtransparancy and surcharge • Danish cardfeeshighlyregulated Dankort: 0,74 dkr. (0,1 euro) Debitcard: 0.3 % Creditcard: 1,5 %, nomax limit Mobile, NFC: Varies • EU fees up to 10+%

  6. The merchants’ perspective • Technology neutral - paymentsshouldbe: • Convenient • Safe • Reliable • Costeffective The Danish Chamber of Commerce (Dansk Erhverv) represents 17,000 Danish companies and 100 trade associations in service sectors such as trade, tourism, business services, IT, welfare services and transport.

  7. Questions? • Get in touch • mfe@danskerhverv.dk • http://dk.linkedin.com/in/mettefeifer

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